US Bank

Banks

Risk Level:

Rating - Danger
High Risk

Summary:

U.S. Bancorp will not do business with companies building oil and gas pipelines. It discriminates against religious organizations in its employee matching grants and fails to protect employees from viewpoint discrimination. U.S. Bancorp uses its corporate reputation and funds to advance ideological causes. For these reasons, US Bancorp receives a "High Risk" rating.

Criteria
Risk Level
Rationale
Corporate Weaponization
Criteria

Has denied service to customers, suppliers, or vendors due to their political views or religious beliefs OR corporately boycotts, divests, or sanctions regions, people groups, or industries.

Risk Level
Rationale

In 2020, U.S. Bancorp released a climate change report that stated the company’s intent to factor climate risks into investment decisions, including excluding oil and gas pipelines from financing (1). However, the bank certified to the state of West Virginia in 2022 that it does not discriminate against financing for coal business ventures (2). U.S. Bank has resisted pressure to boycott the firearms industry, financing Vista outdoor as recently as 2018 (3). It remains to be seen if U.S. Bank will fully cease its financial discrimination.

Criteria

Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.

Risk Level
Rationale

U.S. Bancorp will not match employee donations to groups “whose primary purpose is religious” (1)(2). It does not have similar limitations on secular charitable donations.

Criteria

Employment policies fail to protect against discrimination based on political affiliation/views and/or religion.

Risk Level
Rationale

U.S. Bancorp does not protect its employees from viewpoint discrimination (1).

Corporate Governance and Public Policy
Criteria

Uses corporate reputation to support ideological causes and/or organizations hostile to freedom of expression.

Risk Level
Rationale

U.S. Bancorp advocates for the Equality Act (1).

Criteria

Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.

Risk Level
Rationale

U.S. Bancorp is a corporate sponsor of the Human Rights Campaign (1). US Bank also created a “racial equity bond” to fund housing for minority groups only (2)(3).

Criteria

Uses corporate political contributions for ideological, non-business purposes.

Risk Level
Rationale

U.S. Bancorp has a practice of giving in a bipartisan manner consistent with its business interests (1)(2). However, U.S. Bancorp Political Participation Program PAC gave to the Equality PAC (3).

All links were last accessed and all information was updated on:
January 24, 2023

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